Okay, her interest in El Paso Electric's deal with the city of El Paso hasn't crashed their stock price, however it is making waves.
Go HERE to see where I'm pasting the text from.
Jefferies Lowers Price Target on El Paso (EE), Comments on City Councils Proposal
Jefferies is maintaining its Hold rating on shares of El Paso Electric Company (NYSE: EE) and is lowering its price target by $1 to $33.50 following a City Council members, Courtney Niland, proposal to open a rate case against the utility, arguing that EE's rates could may down and the franchise fees its pays could go up.
They mispelled her name, but the message is clear - Cortney Niland is a thorn in El Paso Electric's side and it is having ramifications way outside the local grid, so to speak.
I will go on record as saying that I'm pretty happy with El Paso Electric's service and understand that certain actions taken many years ago have affected the price of electricity in the southwest greatly.
If you wanted someone on council to mix things up - you got your wish in Niland. This is the kind of start to a political career, and the kind of issue, that launches people into higher office.
I thought this post was rather naive as it was just some investment house voicing their opinion, but given the nature of stocks I decided to wait and see.
After a week, the stock remains bullish and its growth pattern remains on a stable growth trend. I agree with Niland that this growth pattern is unusual for an utility company.
However, I think you were too early on claiming a victory for her. This is a long battle.
Posted by: G. Rosiles | September 02, 2011 at 02:58 PM